In a newly released personal account, called Ithaki, the ex- prime minister Alexis Tsipras spares no criticism as he examines the chaotic period during Greece's economic turmoil.
A Controversial Appointment
According to the ex-PM's version, he appointed the unorthodox academic Varoufakis as his finance minister primarily due to the latter's global profile along with his very persuasive abilities as a speaker.
“In reality, he was, actually, more of a star rather than an economist,” stated Tsipras.
Conflicting Priorities
The former leader claims that Varoufakis possessed his own motives which involved advancing Varoufakis's publications as well as experimenting with his own economic models on the nation instead of genuinely fighting for the country's financial survival.
He wrote how the negotiations to avoid insolvency became “not just a method to secure improved terms for Greece. They were a test, an historic chance to prove the validity of Varoufakis's theories.”
Critical Negotiations
During rollercoaster negotiations, the country found itself dangerously close to leaving the single currency area.
On the line was not only the country's future and those harsh cutbacks demanded in return for financial aid from international creditors.
Failed Alternatives
Efforts to secure funds elsewhere, such as an urgent appeal to the Kremlin to buy Greek government bonds, went unanswered.
Assisting Greece would be tantamount to throwing money in the trash-can, the Russian leader reportedly told Tsipras in Moscow.
Referendum and U-Turn
That summer, the harsh bailout terms were put to a popular referendum, a move which plunged the EU into further existential crisis.
Although the referendum was carried decisively by voters against the cuts, Tsipras was forced to reject its outcome and negotiate a rescue deal from creditors that turned out to be even harsher.
Breaking Point
The ex-PM claimed how he began to doubt his finance minister quite early on.
“He was the public image of negotiation, the figure who drew media attention, who appeared on the covers of magazines the world over … it seemed he relished the spotlight.”
After the minister proposed a contingency plan that included creating a parallel currency as well as distributing coupons to retirees, the leader knew it was the end questioning Varoufakis: “Is this for real?”
Enduring Rebuke
In the book, Tsipras asserts that Varoufakis demonstrated himself “unsuitable for a deal that required complex and delicate management.”
He also wrote how his confrontational style left him more and more alone with colleagues, endangered the country, and helped hardliners that were advocating a Greek exit from the euro.
This retelling of events has provoked fury along with shock in some quarters, while Varoufakis has so far maintained a conspicuous quiet on the matter.
